Spain: Boring Machinery Market 2024

Boring Machinery Market Size in Spain

The Spanish boring machinery market contracted to $X in 2022, with a decrease of -10.5% against the previous year. Over the period under review, consumption, however, enjoyed notable growth. Boring machinery consumption peaked at $X in 2021, and then fell in the following year.

Boring Machinery Production in Spain

In value terms, boring machinery production declined slightly to $X in 2022 estimated in export price. In general, production, however, saw mild growth. The growth pace was the most rapid in 2016 when the production volume increased by 68%. Over the period under review, production attained the peak level at $X in 2018; afterwards, it flattened through to 2022.

Boring Machinery Exports

Exports from Spain

In 2022, the amount of boring or sinking machinery exported from Spain soared to X units, rising by 615% on the previous year's figure. In general, exports continue to indicate a remarkable increase. Over the period under review, the exports reached the maximum at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, boring machinery exports skyrocketed to $X in 2022. Overall, exports saw slight growth. The pace of growth appeared the most rapid in 2015 when exports increased by 983% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Poland (X units) was the main destination for boring machinery exports from Spain, accounting for a 87% share of total exports. Moreover, boring machinery exports to Poland exceeded the volume sent to the second major destination, Portugal (X units), more than tenfold. The third position in this ranking was taken by Morocco (X units), with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume to Poland stood at +89.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+29.2% per year) and Morocco (-6.9% per year).

In value terms, Poland ($X) emerged as the key foreign market for boring or sinking machinery exports from Spain, comprising 84% of total exports. The second position in the ranking was taken by Portugal ($X), with a 4.6% share of total exports. It was followed by Andorra, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value to Poland amounted to +79.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+29.4% per year) and Andorra (+58.1% per year).

Export Prices by Country

The average boring machinery export price stood at $X per unit in 2022, growing by 32% against the previous year. In general, the export price, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by 99%. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Andorra ($X per unit), while the average price for exports to Morocco ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Andorra (+8.6%), while the prices for the other major destinations experienced mixed trend patterns.

Boring Machinery Imports

Imports into Spain

In 2022, the amount of boring or sinking machinery imported into Spain skyrocketed to X units, rising by 45% on the previous year's figure. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 516% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, boring machinery imports surged to $X in 2022. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 317%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

France (X units), Italy (X units) and Germany (X units) were the main suppliers of boring machinery imports to Spain, together accounting for 81% of total imports. Belgium, Sweden, the Czech Republic and the United States lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +119.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Italy ($X) and Germany ($X) appeared to be the largest boring machinery suppliers to Spain, with a combined 78% share of total imports. Sweden, Belgium, the Czech Republic and the United States lagged somewhat behind, together comprising a further 16%.

Among the main suppliers, the Czech Republic, with a CAGR of +87.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average boring machinery import price amounted to $X per unit, growing by 22% against the previous year. Over the period under review, the import price, however, showed a perceptible slump. The pace of growth appeared the most rapid in 2015 when the average import price increased by 94%. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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